Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.
Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.
As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.
Well obviously bitcoin is not that safe, and that is due to the fact that it is not controlled by government and there are a lot of them that are trying to ban it, and enforce users not to use it, and if we reach a point where a large portion of the world totally bans it, we would be faced with bitcoin losing many people and that would most likely affect it heavily.